Compliance

Monica Hughes Davy is new director of the OMWI following a six-month search.

Small Pennsylvania credit union is fourth closure of 2015.

A bipartisan group of lawmakers has introduced the first Senate bill protecting banks involved with legal marijuana businesses.

Lenders and real estate agents may have to extend the usual 30-day timelines for rate locks and sales contracts while they get acclimated to the new Consumer Financial Protection Bureau mortgage disclosures that take effect in October.

Federal prosecutors are cracking down on violations of the Bank Secrecy Act — often without first clarifying to virtual currency firms and other industries the sort of behavior will get them in trouble.

The PayPal of today has come a long way from the 1998 startup that enabled people to transfer funds between Palm Pilots. As the company nears its spinoff from eBay, it is continuing its acquisitive streak with some transformative purchases.

The Consumer Financial Protection Bureau has suggested that financial institutions get busy on implementing consumer protections for real-time and faster payments.

Deposit premiums could rise at 20% of banks with up to $10 billion in assets. Many of those banks could rethink asset concentrations that would trigger higher assessments.

MasterCard Inc. received an antitrust complaint from European Union watchdogs over concerns it's "artificially raising" card-payment fees.

ACI Worldwide has added three board members with pervasive experience in financial services, following the retirement of other board members.

Mobile banking technology provider Monitise Plc has informed its shareholders that Visa Europe will reduce its investment in the company, but will complete a three-year commercial agreement to develop services and finish products.

The National Credit Union Administration has signed a five-year contract with the National Treasury Employees Union—which represents nearly 80% of the agency's work force.

Western Union, which last week suspended activities in Greece amid the country's debt crisis, has restarted some of its services.

Credit unions and CUSOs largely panned a recent report issued by the U.S. Government Accountability Office (GAO) that specifically called on Congress to authorize NCUA to examine credit unions' third-party technology providers, with one notable exception.

PayPal is putting a lot of effort into ensuring that the company that emerges from eBay ownership this month is a much different — and more powerful — creature than the one it has been until now.

While hiring a chief risk officer is a given at the big banks, smaller institutions must weigh several factors and options in determining the risk leadership model that works for them.

Since the growth of online retail, payments providers and acquirers have wrestled with the ethical questions and the risks surrounding gun sales, marijuana shops, pornography sites and other businesses that carry a stigma.

In a report on the need for financial regulators to improve their data security efforts, the U.S. Government Accountability Office called for NCUA to have the authority to examine credit unions' third-party technology providers.

On top of dealing with cyber threats and other potential dangers to banks, CROs are deeply involved these days in discussions over investing in new products and business lines.

BOK Financial has hired Glenn Brunker to oversee mortgage operations and manage the bank's transition to a new federally-required consolidated mortgage disclosure regime.